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| British Land to build Leadenhall Building in London  Property giant British Land said that its board has formally decided to press ahead with construction of the Leadenhall Building, its 224m (736 ft) new tower in London. The stunning 47 storey building (612,000 sq ft), set to be one of the tallest in the City of London, is part of British Land's £4 billion development programme which also includes the new 35 storey Broadgate Tower and 201 Bishopsgate developments in the City. Demolition on the existing site is well underway and Richard Rogers’ Leadenhall Building, already dubbed the Cheese Grater, is scheduled for completion in the first quarter of 2011 with construction costs circa £286 million.British Land also announced a better-than-expected 13% rise in its underlying trading pretax profits to £257 million. The company confirmed that it had sold its landmark property at One Exchange Square to KanAm Grund, the German investment company. The building, currently the headquarters of the European Bank of Reconstruction and Development, attracted a price of £406m. The sale is due to complete in June. write your comments about the article :: © 2007 Construction News :: home page |